{"id":756,"date":"2009-08-05T12:04:06","date_gmt":"2009-08-05T17:04:06","guid":{"rendered":"http:\/\/blogs.edf.org\/climate411\/2009\/08\/05\/eia-analysis-climate-bill-will-cut-america%e2%80%99s-oil-addiction-for-about-a-dime-a-day\/"},"modified":"2009-08-05T12:04:07","modified_gmt":"2009-08-05T17:04:07","slug":"eia-analysis-climate-bill-will-cut-america%e2%80%99s-oil-addiction-for-about-a-dime-a-day","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/climate411\/2009\/08\/05\/eia-analysis-climate-bill-will-cut-america%e2%80%99s-oil-addiction-for-about-a-dime-a-day\/","title":{"rendered":"EIA Analysis: Climate Bill Will Cut America\u2019s Oil Addiction for About a Dime a Day"},"content":{"rendered":"

A just-released analysis<\/a> from the Energy Information Administration (EIA) says the cap on carbon pollution in the American Clean Energy and Security Act of 2009 (H.R. 2454) can be achieved for $83 per year per household – or a dime a day per person.<\/p>\n

One of the reasons it’s so affordable is that increases in consumers’ electricity and natural gas bills are substantially mitigated through 2025 by the allocation of free allowances to regulated electricity and natural gas distribution companies.<\/p>\n

Nat Keohane<\/a>, EDF’s director of economic policy and analysis, says this:<\/p>\n

This analysis confirms what every other credible study has found, and it – once again – refutes the widely reported scare tactics about the cost of the cap and trade bill. Opponents of action will always try to cherry-pick the numbers and use models with biased assumptions. The EPA, EIA and CBO are the non-biased standard for economic analysis.<\/p>\n

For a dime a day we can solve climate change, invest in a clean energy future, and save billions in imported oil.<\/p><\/blockquote>\n

The analysis also shows that the climate bill passed by the House would reduce our dependence on foreign oil<\/strong> – the U.S. would reduce its consumption of oil by 344 million barrels in the year 2030 alone, under the provisions of the bill. That’s a cut of more than 12 percent of predicted imports for the same year without the bill.<\/p>\n

Other key points about the EIA analysis:<\/p>\n